Published on 6/22/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.74 million 13.1% autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, June 22 – Credit Suisse AG, London Branch priced $2.74 million of 13.1% autocallable yield notes due June 21, 2018 linked to the common stocks of Facebook, Inc., Amazon.com, Inc., Nvidia Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any monthly review date beginning Sept. 18, 2017.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the company’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Nvidia Corp. and Alphabet Inc.
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| Amount: | $2,737,000
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| Maturity: | June 21, 2018
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| Coupon: | 13.1%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its 70% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
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| Call: | Automatically at par if stocks close at or above their initial levels on any monthly review date beginning Sept. 18, 2017
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| Initial share prices: | $150.64 for Facebook, $987.71 for Amazon, $151.62 for Nvidia and $958.62 for Alphabet
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| Trigger share prices: | $105.448 for Facebook, $691.397 for Amazon, $106.134 for Nvidia and $671.034 for Alphabet, 70% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JHM5
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